Correvio Pharma (NASDAQ:CORV) Trading 15.3% Higher

Correvio Pharma Corp (NASDAQ:CORV) traded up 15.3% during trading on Wednesday . The stock traded as high as $2.50 and last traded at $2.48, 264,953 shares were traded during trading. An increase of 63% from the average session volume of 162,700 shares. The stock had previously closed at $2.15.

A number of research firms recently weighed in on CORV. ValuEngine upgraded Correvio Pharma from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Correvio Pharma in a report on Thursday, August 15th. Finally, Cantor Fitzgerald assumed coverage on Correvio Pharma in a report on Tuesday, September 3rd. They set an “overweight” rating and a $6.00 price objective on the stock. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $6.75.

The business’s 50 day moving average is $1.87 and its 200 day moving average is $2.48. The company has a debt-to-equity ratio of 7.21, a quick ratio of 1.45 and a current ratio of 1.68. The stock has a market cap of $108.08 million, a price-to-earnings ratio of -2.79 and a beta of 0.37.

Correvio Pharma (NASDAQ:CORV) last announced its earnings results on Wednesday, August 14th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.05). The firm had revenue of $7.39 million for the quarter, compared to analyst estimates of $7.64 million. Correvio Pharma had a negative net margin of 107.91% and a negative return on equity of 575.20%. Research analysts expect that Correvio Pharma Corp will post -0.72 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in CORV. Westfield Capital Management Co. LP increased its holdings in shares of Correvio Pharma by 0.8% in the 2nd quarter. Westfield Capital Management Co. LP now owns 4,825,255 shares of the company’s stock valued at $10,423,000 after purchasing an additional 37,223 shares during the period. Tamarack Advisers LP lifted its holdings in shares of Correvio Pharma by 39.6% during the second quarter. Tamarack Advisers LP now owns 3,350,000 shares of the company’s stock worth $7,437,000 after buying an additional 950,000 shares during the last quarter. River & Mercantile Asset Management LLP acquired a new position in Correvio Pharma during the 2nd quarter valued at $1,212,000. ARS Investment Partners LLC raised its position in shares of Correvio Pharma by 24.9% during the second quarter. ARS Investment Partners LLC now owns 422,123 shares of the company’s stock valued at $912,000 after buying an additional 84,255 shares during the last quarter. Finally, Columbia Pacific Advisors LLC raised its holdings in Correvio Pharma by 29.8% in the 1st quarter. Columbia Pacific Advisors LLC now owns 130,709 shares of the company’s stock valued at $413,000 after acquiring an additional 30,000 shares in the last quarter. 38.97% of the stock is currently owned by institutional investors.

About Correvio Pharma (NASDAQ:CORV)

Correvio Pharma Corp. operates as a pharmaceutical company, which engages in the provision of development and commercialization of medical products. It operates through the Europe and Rest of the World geographical segments. The firm focuses on cardiovascular therapies that will improve the quality of life and health of patients suffering from heart disease.

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